Spain: Confusion in the smoking industry over a tax on Norwegian salmon

Published 2023년 1월 29일

Tridge summary

The smoked fish industry in Spain is expressing concern over proposed tax increases on salmon imports from Norway, which could reach around 60% due to a new 40% income tax on aquaculture production. This uncertainty is causing problems for suppliers and compliance with the Food Chain Law. The tax, introduced on January 1, is expected to be decided by the Norwegian Parliament in May and June, adding to the financial strain of the industry and potentially affecting the availability of raw materials and the competitiveness of factories. The situation is further complicated by the need for predictability in pricing to comply with the Food Chain Law, with some producers hesitant to make contracts or facing difficulty in estimating taxes, leading to increased costs and instability. Despite these challenges, there has been a growth in salmon exports from Norway to Spain in the first three weeks of 2023, driven by increasing consumer demand for smoked fish products and sushi preparations.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The smoked fish industry warns of the "chaos" that is generating a tax increase on salmon in Norway. Problems with suppliers, difficulties in complying with the Food Chain Law and uncertainty despite the fact that there are good forecasts for food consumption. Norway, a leader in the export of salmon, has introduced in January a 40% income tax increase on its aquaculture production that would raise the tax rate to approximately 60%, and that worries smoked manufacturers about the costs and because it is altering the contractual relations to import it. Among its consequences, there are problems when calculating the price and an operation with little foresight that also makes it difficult to comply with the Food Chain Law, according to the Spanish Association of Manufacturers of Smoked Fishery Products (Anapa). This disorder occurs precisely at a time when sales forecasts for Norwegian salmon are positive, since it is one of the favorite fish of the Spanish, and in fashion for ...

Source: PEefeagro